Military Rule In Nigeria – In the early hours of January 15, 1966, Nigeria witnessed the first military coup led by Major Chukwuma Nzeogwu and other majors in the army. It was a bloody military intervention in the political history of Nigeria.
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This article deals primarily with the political parties of the First, Second, Third and Fourth Republics of Nigeria. Unlike the nationalist parties of the colonial era whose primary objective was decolonisation, the overriding objective of the post-independence parties was to win political power.
Capitalism may be defined as an economic system in which all or most means of production are owned and controlled by private individuals and in which the economic activity of the government is at a minimum while Socialism is an economic system where the state takes the major economic decisions through detailed planning. Countries that adopt this system do not believe in the efficacy of market forces.
According to Professor Robbins, Economics may be defined as “a Science which studies human behaviour as a relationship between ends and scarce means which have alternative uses.”
Why Economics is a Science? | Economics is called a science subject because it uses scientific measures to explain, observed phenomena and predict the outcome of future events. This scientific method of observation is generally referred to as inductive method.
Basic Problems of Economics | Scarcity and choice are the cardinal problems faced by economists and the society at large. The study of economics is necessitated by scarcity and the problem created by scarcity has led to choice.
Opportunity cost means the alternative foregone or sacrifice made in order to satisfy another want. It refers to the need that is left unsatisfied in order to satisfy another more pressing need.
Scale of preference refers to a list of individual wants in order of their relative importance. The drawing of scale of, preference will make it easier for choice to be made.
E-government is the use of the internet and the world wide web for delivering government information. The focus of e-government should be on the use of information and communication technologies for better government.
The Millennium Development Goals refer to a set of fundamental goals set by the United Nations in 2000 which all member states of the United Nations and, particularly developing countries, are required to achieve within a period of fifteen years.
The New Economic Partnership for African Development (abbreviated as NEPAD) is an economic development programme of the African Union (AU). It was established on October 15, 2001 at a summit of the African Union in Lusaka, Zambia.
Why Study Economics? – The study of economics assists individuals to be independent and be practical individuals. This is possible through the application of practical approaches to emerging issues and providing solutions to deny problems.